Shares of Galectin Therapeutics, Inc. (NASDAQ:GALT) soared on Tuesday's market activity. GALT was initiated with a Buy and price target of $20.00 by brokerage firm MLV & Co.
GALT is developing promising carbohydrate-based therapies for the treatment of fibrotic liver disease and cancer based on GALT's unique understanding of galectin proteins, key mediators of biologic function.
The price of InterCloud Systems, Inc. (NASDAQ:ICLD) stock skyrocketed on Tuesday's trading session, after the company reported that using proceeds received as a result of investors exercising warrants issued in its recent public offering, and with the consent of its senior lender, ICLD has been able to redeem and cancel $3 million worth of its Series F Preferred Stock.
According to ICLD, it has eliminated nearly $10 million in liabilities from its balance sheet since the end of the third quarter, while raising $5.7 million in the public capital markets, and have strengthened its capabilities for future growth in the process.
Furthermore, ICLD's subsidiary TNS, Inc. revenues for the twelve month period following its acquisition by ICLD have increased by approximately 60%, from $3.1 million to $4.9 million, with a corresponding increase in net income of $0.8 million to $1.0 million, from $0.2 million for the twelve month period ended September 30, 2012.
ICLD is a global single-source provider of value-added services for both corporate enterprises and service providers.
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